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EMX’s Kitka Project consists of multiple Au-Co prospects within the intracratonic, rift-related Paleoproterozoic Kuusamo Schist Belt. Gold-cobalt occurrences are hosted by a clastic sedimentary sequence (2.35 to 2.21 Ga) with localized zones of basalts and evaporites. This sequence was intruded by gabbroic dikes and sills and subsequently deformed. The Au-Co mineralization is spatially associated with the intersection of faults and anticlinal structural features. The style of mineralization appears to differ amongst shear types; mineralization occurs as lode occurrences in ductile shears whereas mineralization in brittle shear zones is hosted within hydrothermal breccia pipes.

The Kitka Project area was first studied by the Finnish Geological Survey (GTK) in the 1980s, but has not seen any exploration in the last 15 years. Historical drilling was generally very shallow and known mineralization at multiple prospects remains open both at depth and along strike.

Latitude 66 Cobalt’s nearby K Camp (which includes the Juomasuo, Meurastuksenaho, Sivakkaharju, and Kouvervaara deposits), which shows a similar metal tenor to EMX’s Kitka Project, has a reported Indicated Mineral Resource of 5.96 Mt at an average grade of 2.9 g/t Au and 0.087% Co and an Inferred Mineral Resource of 2.29 Mt at and average grade of 2.3 g/t Au and 0.109% Co.

Note: The K-camp JORC compliant mineral reserves and resources were reported by Latitude 66 Cobalt Oy, a private company, in their August 2021 Corporate Presentation. The mineral reserves and resources at K1 were reported in the Kuusamo Project, Mineral Resource Estimate K1 Gold and Cobalt Deposit, October 2020 prepared by International Resource Solutions Pty Ltd. The mineral reserves and resources at K2 and K3 were reported in the Memorandum, K2 and K3 Gold/Cobalt Deposit Resource Estimation, October 2020 prepared by International Resource Solutions Pty Ltd. These mineral reserves and resources were reviewed and approved by Brian Wolfe, Director and Principal Consultant of International Resource Solutions Pty Ltd. The mineral reserves and resources at K4 and K5 were reported in the Information Memorandum Kuusamo Gold Project, May 2016 prepared by RungePincockMinarco (RPM). The mineral resources and reserves provide regional geologic context for EMX’s Kitka Project, but this is not necessarily indicative of the mineralization on the Project.


Kitka geology Click to Enlarge